Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no comment on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
